Bayer, BASF, Interested in Monsanto and Ag Groups Eyeing Next Farm Bill

Agriculture Groups Eyeing Next Farm Bill

Farm groups are already looking ahead to the next farm bill. Agriculture and commodity groups are starting meetings regarding issues facing agriculture that the groups deem important for the next farm bill, expected in 2018. The meetings are starting early because, as DTN reports, agricultural groups were not on the same page when the push began for what became the 2014 farm bill. The 2014 farm bill started as a rushed effort in 2011, and the processes dragged into 2014. A lobbyist with the American Soybean Association told DTN “if we want things to come out any differently the next time around then we need to prepare for it.” National Council of Farmer Cooperatives President and CEO Chuck Conner is chairing the gathering of farm groups, and says “It's not too early to talk about how the current bill is functioning.” So far, the meetings have been mostly educational but have focused on cotton and dairy producers who are effectively operating with little or no safety net right now. Conner says he hopes the discussions over the next year will create more unity among agricultural groups before the Congress starts on the next farm bill.

Bayer, BASF, Interested in Monsanto

Both Bayer and BASF are exploring a combination with Monsanto, the world’s largest seed producer. Thursday, Bloomberg News reports Bayer was exploring a bid for Monsanto while Street Insider said BASF was also looking into acquiring Monsanto.  High crop inventories and low prices have placed pressure on the industry to consolidate within the last year. Earlier this year, ChemChina agreed to acquire Swiss-based Syngenta for $43 billion, while Dow Chemical and DuPont combined into a $130 billion company last year. Monsanto also made a bid for Syngenta last year. Monsanto officials have long argued, according to Reuters, the company needs to buy or team up with a large crop chemicals maker as farmers increasingly look for one-stop shopping.

Source:  NAFB News